Circular economy refers to a development model in which emphasis is given in expanding the lifetime of products, reducing the consumption of non-renewable resources and promoting the reuse, recycle and recovery of energy and materials consumed. This new development approach enables sustainable growth, with multiple benefits for the society, the economy and the environment, while requiring changes to entire value chains, from the design up to final consumption of products.
OTE Group recognizes the scarcity of natural resources and considers a more efficient use of these resources a priority for sustainable development. To achieve this, principles of circular economy are integrated in its operations across its value chain by:
- Setting eco-design technical specifications for the products provided (see Responsible Communication with Customers) and contractual terms covering sustainability issues (see Responsible Procurement and Supply Chain Management),
- Applying the principle "Reduce – Reuse – Recycle" for its activities,
- Expanding the lifetime and overall utilization of the equipment provided to customers, and facilitating the recycling of their discarded equipment,
- Developing products and services that contribute to the rational and efficient use of natural resources and the reduction of waste generated (see Products and Services for Sustainability) and
- Informing and encouraging citizens to adopt recycling practices.
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